Samsung Q2 2010 financial report is out, growth slows down a bit

After the impressive start of the year Samsung's growth slowed down a tad during the second quarter of the year. Nevertheless, the financial report shows that the company is still doing quite fine and situation is expected to get even better in the second half of the year.

Samsung has just announced its Q2 2010 financial report. The South Korean company sold good 63.8 million handsets which makes 22 percent more units than last year's second quarter and less than a 1 percent decrease when compared to Q1 2010.

In total Samsung earned some 6.81 billion US dollars, which is a 5% sales decrease Year-on-Year. As far as the operating profit of around 533 million US dollars is concerned, it marks a 3.6% decrease Year-on-Year.

The growth is slowing down a bit which is a result of the lowered average handset selling price and the European economy's slowdown.

However, this is said to change in the second half of the year when Samsung expects to sell not only 10% more feature phones but some 20% more smartphones as well (such as the Android-running Samsung I9000 Galaxy S and the Bada-powered Samsung S8500 Wave), which will increase the average selling price and should bring better financial results.

So, in H2 2010 the demand is said to increase by 15% due to the strong seasonality. And while smartphones will generate good profits in the developed markets, more 3G and full touch devices are expected to be sold in the emerging markets.

Outlook is good for Samsung and we are not surprised to hear that especially when keeping in mind the great devices that the company released recently and is about to release in the near future (such as the Galaxy S successor which is said to arrive next year).